317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

$5,800,000

MLS® # C8077829

Investment For Sale In Queens Park, New Westminster, British Columbia

$5,800,000

Property Information:

Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside potential. The property generates approximately $37,300 per month with a 5.53% cap rate and clear opportunity for growth as rents are brought toward market levels, with increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedroom units, 1 two-bedroom unit, and 4 bachelor units, with all tenancies on a month-to-month basis and consistently low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery and is expected to significantly reduce heating expenses, enhancing overall operating efficiency. Features include hardwood flooring, a central courtyard, on-site laundry, storage, and 13 enclosed garages. (id:27)

Building Features:

  • Style: Multiplex
  • Amenities: Street Lighting
  • Floor Space: 21619 sqft

Property Features:

  • Property Type: Multi-family
  • Built in: 1925
  • Features: Lane
  • Floor Space (approx): 21619 Square Feet
  • Irregular: Yes
  • Lot Size: 23925.00 Square Feet
  • Utility Type: Cable - Available, Sewer - Available, Natural Gas - Available, Telephone - Available, Hydro - Available
  • Zoning: RS-4
  • Sewer: Storm sewer

Courtesy of: Team 3000 Realty Ltd.

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This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.

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